COVID-19 Accelerates Digital Transformation
The digital shift is one of the most profound changes unfolding in commerce. Globally, online purchases of goods and services reached USD6.8 trillion in 2019, more than double the amount spent in 2014. COVID-19 accelerated e-commerce adoption, with many consumers experimenting and even becoming reliant on the digital channel while in isolation.
The pandemic caused drastic travel restrictions and non-essential business closures, driving seismic shifts in how and where consumers spend their money. Consumers had no choice but to turn to the digital channel as brick-and-mortar stores and restaurants closed during the height of outbreaks. Even though certain physical outlets remained open, shopping behaviours were changing. Consumers limited in-store trips and time spent shopping in stores due to safety concerns. This white paper examines the sudden shift to the digital channel as a result of the COVID-19 pandemic. Identifying the factors influencing the digital transformation of the path to purchase and the consumers driving this change can help businesses take decisive action to remain competitive.
The article is property of Euromonitor International, a market research provider, and can be read in full through: https://go.euromonitor.com/white-paper-dc-200922-digital-consumer-journey.html?utm_campaign=SC_20_11_05_STN_Digital_Consumer_Survey_Relaunch&utm_medium=Email&utm_source=1_Outbound